EU Court expected to reject UK’s challenge to transaction tax

Exchange Shorts

European Union Court is expected to reject UK’s challenge to the transaction tax during its ruling on April 30, EurActiv reported.

Chicago Mercantile Exchange Europe will officially be launched Sunday, April 27. The venture is the first trading venue launched by CME outside of the US and will start with offering 30 FX futures products and a range of commodity contracts, FTSE Global Markets reported.

NDAQ and private equity firm KKR plan to create a new private market which will allow investors to sell parts of their stake in buyout funds, the Wall Street Journal reported. According to the report, the new market would be open only to accredited investors, or individuals with $1 million in wealth, not including their primary homes. NDAQ CEO Robert Greifeld stated that the exchange group had yet to be subpoenaed by the New York attorney general as part of the high-frequency trading probe.

Britain’s Financial Conduct Authority is expected to observe banks’ London gold-fixing calls, Bloomberg reported. According to the report, FCA is visiting all five member banks involved in the London fixing as part of its review of gold benchmarks.

Asia update: China, India and South Korea are expected to mandate central clearing in the near future, Risk.net reported.

About the Author

Bernardo Mariano brings to ERDesk his experience structuring private deals for the acquisition of mutual exchanges. Prior to joining ERDesk Bernardo worked as a Director for Instinet and later, CEO of Reuters' Bondex. He holds an MS in Economics from University of Illinois and an MIA in Finance from Columbia University. He can be reaced at be reached at mariano@erdesk.com.